According to a recent report from the Joint Center for Housing Studies at Harvard University, annual spending on remodeling is expected to accelerate this year, with nearly 5% growth over 2009. Why the sudden urge for homeowners to start remodeling?

It’s a little different from the home improvement boom of 2006, where people wanted to renovate their places to move into a bigger home. Now it’s about making their existing homes more comfortable for a longer-than-expected stay because, frankly, it makes more economic sense.

Read here for the full story from the The Wall Street Journal.